Guideline Value for ANDAL NAGAR ANNEX

Andal Nagar Annex guideline value

The current guideline value of Andal Nagar Annex, located in Vanagaram village, is Rs 1,660 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Andal Nagar Annex has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 216 per sq.ft in 2003, marking a 15% rise. The value further increased to Rs 300 per sq.ft in 2007, reflecting a 39% increase. The 2012 revision saw the value rise to Rs 1,500 per sq.ft, a substantial 400% increase from 2007. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,660 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 783%. The register has no figures for the years not mentioned in the list provided.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the current guideline value for Andal Nagar Annex.

• Andal Nagar 9th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 8th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 7th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 6th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 5th Street: Rs 1,660 per sq.ft (2024)
• Andal Nagar 4th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, resulting in a total of Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andal Nagar Annex?

The Sub Registrar Office that covers Andal Nagar Annex is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vanagaram

The guideline value is a crucial factor when registering property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Andal Nagar Annex?

The current guideline value of Andal Nagar Annex is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 188 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, reflecting an overall increase of 783% over the years.

What is the land classification for Andal Nagar Annex?

Andal Nagar Annex is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Andal Nagar Annex located?

The Sub Registrar Office for Andal Nagar Annex is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.